Word: ftc
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Dates: during 1990-1999
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...FTC's job, of course, to be suspicious of precisely the sort of vertical integration Time Warner hopes to achieve. The commission was particularly obsessed by TCI chieftain Malone, who controls 22% of TBS and therefore wields veto power over its acquisition. Together, TCI and Time Warner control 40% of the U.S. cable market, and the FTC dearly wanted to limit Malone's influence. In response, the infamously brilliant strategist, not a man renowned for his negotiating generosity, clinched the deal by suggesting the creation of a spinoff company comprising up to 14.9% of Time Warner shares--a company that...
...outright to News Corp. chairman Rupert Murdoch, ever ravenous for new distribution lines. Just last week Murdoch buffed up his portfolio with a $2.5 billion purchase of the 10-affiliate-strong New World Communications Group, and there could be a tidy little Turner windfall awaiting him too. The FTC deal requires Time Warner to carry a second news channel on its systems to complement CNN; don't be surprised to find the infant Fox News Channel, and not the more formidable MSNBC, in your cable listings sometime next year...
BUGS BUNNY Until the FTC is happy, the Warner icon won't be merging with pals on Turner's Cartoon Network...
...Doles have always endured good-natured ribbing about the antitrust implications of so powerful a merger as theirs, but those barbs seemed real when Dole was named Gerald Ford's running mate in 1976. Mrs. Dole took a leave from the ftc to campaign for him, and returned to her job after Carter's victory. She resigned in 1979 when her husband ran for the 1980 election, and campaigned vigorously for Ronald Reagan after Dole dropped out. Some feminists have criticized her for suspending her own career to help her husband's. Her response: "What we women fought...
...pressure manufacturers into withholding their hottest products from warehouse discounters. In denying that Toys "R" Us had done anything wrong, CEO Michael Goldstein declared that the company had an "unquestionable right to refuse to carry the same items as warehouse clubs." Goldstein said he was "astounded" that the FTC would bring such a complaint against what amounted to a common retailing practice. Toy watchers were startled as well, because the Feds also say those Barbies, G.I. Joes and Buzz Lightyears that your kids are clamoring for could be overpriced. Yet the company, with sales of $9.4 billion last year...